CASRO Members Optimistic About Economic Recovery for Research Businesses

February 23, 2010 - In its year-end installment of the quarterly “State of the Business Survey,” CASRO members were strongly optimistic about economic recovery in 2010. This optimism is likely based on the positive trend in business growth in the 4th quarter of 2009. Survey participants reported an especially strong increase in 4th quarter growth, with 71% recording an increase over third quarter. Some research firms continue to experience a sluggish economy, 15% claimed reduced 4th quarter revenues, and 14% reported no change. Looking at 2010, 77% of participating members forecast increased revenues; with only 1% believing that revenues will decrease again in 2010 (22% said no change or were unsure). Most are optimistic about economic recovery, with 78% of respondents believing that the recovery has already started or that it will occur in 2010.

This optimistic business outlook follows a challenging year for the US research industry, with 56% of the respondents in the CASRO Year-end State of the Business Survey reporting that business decreased in 2009 compared to 2008, with only 32% of respondents reporting that business increased in 2009 (the balance said no change).

Recognizing that uncertainty is still present and the forecast of recovery is not uniform, CASRO will continue to provide leadership exchanges and networking opportunities to help members assess and navigate through the anticipated recovery.

For More Information
Contact: Art Flanagan
Director of Communications
631-928-6954, aflanagan@casro.org

www.casro.org

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